According to the claim shared by The Block, Wall Street giant Fidelity is expected to submit its own application for a spot Bitcoin ETF.
Asset management giant Fidelity is close to making its own application for a spot Bitcoin exchange-traded fund.
A source familiar with the firm's plans says the firm could submit its application as soon as Tuesday, following the lead of wealth management giant BlackRock.
BlackRock's application on June 15 was followed by other asset managers looking to launch their own spot Bitcoin funds, including Invesco, WisdomTree, and Bitwise.
Fidelity also represents an investment giant with tens of millions of retail brokerage clients and over $11 trillion in assets under management. The company is also no stranger to crypto, as it has been running an institutional custody and trading services business in the market since 2018.
*Not investment advice.